secwatch.observer — SEC 8-K summary
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Issuer:     SpringBig Holdings, Inc. (SBIG)
CIK:        0001801602
Form:       8-K
Filed at:   2026-07-16T20:53:25+00:00
Accession:  0001213900-26-078753
Event type: debt
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 5.02, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SpringBig Holdings transfers assets to LS Round II, LLC, releases $12.5M debt, appoints new CEO
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- Transferred all equity of subsidiary SpringBig, Inc. to LS Round II, LLC under Reorganization Agreement dated July 13, 2026.
- Eliminated approximately $12.5 million in principal and accrued interest on Senior Secured Convertible and Term Promissory Notes.
- Appointed Andrew Jay Glashow as CEO and Class I director effective July 10, 2026, with annual salary of $125,000.
- Company received $171,920.69 cash consideration and reduced secured obligations by $150,000; intends to pursue strategic business combination or wind down.
- Agent Shalcor Management Inc. and purchasers Lightbank II, L.P. and LS Round II, LLC consented to the reorganization in lieu of foreclosure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801602/000121390026078753/0001213900-26-078753-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801602/000121390026078753/ea0298313-8k_springbig.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-078753

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